Ingram Micro Boasts Record Sales

Ingram Micro Inc., the world’s largest distributor of computer products, posted a 40% gain in first-quarter profit on record sales.

The Santa Ana-based company said net income climbed to $56.5 million, or 38 cents a share, in the first three months, from $40.4 million, or 28 cents a share, a year ago. The 1998 figure included a noncash charge of $920,000, while the year-earlier profit included a noncash charge of $1.4 million.

Sales rose 44% to $5.2 billion from $3.6 billion.

The results were released after the market closed. Ingram Micro’s stock was up $1.06 a share to $42.75 on the New York Stock Exchange.